A drop of over 81% in total tourist activity compared to 2019
EDITING |
The Coronavirus crisis will hit the tourism sector hard, according to Exceltur (Alliance for Tourism Excellence) the tourism activity could suffer a drop of 81.4% of the total direct and indirect tourism activity of 2019, which would in turn translate into a greater drop in the Spanish GDP than recently forecasted by the IMF for the total Spanish economy in 2020. This drop would amount to a decrease of 124.458 billion Euros.
For Exceltur, a increasingly complex macroeconomic scenario is looming in Europe,
since the main issuing markets for Spain will be, on the one hand, affected to a greater or lesser extent by COVID 19 and in recession according to authorities such as the IMF and where recovery is not expected until the end of 2021.
The psychological effect of a greater perceived security, throughout Europe, of spending vacations in closer and more controlled family environments known as: “staycation.”
The labor calendar and the need for recovery of business activity in Spain
will make it difficult for workers to enjoy long vacations.
The reduction of disposable income for vacation spending of Spanish families and
European due to recession and rising unemployment, as well as the saving effect of
looking to the future due to a possible reactivation of the pandemic, which will also put pressure on prices
the low.
